this is business live from bbc news, with maryam moshiri and victoria fritz. chinese tech stocks plunge on a report about chips inserted in products by chinese spies. live from london, that's our top story on friday 5th october. a bloomberg investigation has found that data from us companies has been stolen via chips installed inside circuit boards. also in the programme... tax and spend — or cut back and privatise? two conflicting plans for fixing latin america's largest economy — as brazil gets ready to choose its next president. unilever u—turn.

—— european markets have opened and we are tracking wall street. and also... unilever u—turn. the company behind marmite and pot noodle abandons plans to move its corporate headquarters from london to rotterdam in the netherlands. we'll discuss that and the week's other big corporate news with our business editor simonjack. he is trying to navigate a strike on the tube at the moment, so we hope we are going to get him! also in the programme — brits are now buying more new clothes than any other european country, almost double that of italy, germany and the netherlands. fast fashion is harming the planet. do you care? let us know what you think. just use the # behind me, #bbcbizlive. hello and welcome to business live. we start in asia, where chinese tech stocks have plunged on concerns about it security. it follows a bloomberg report that data from us companies has been stolen via tiny chips inserted in their products by chinese spies.

bloomberg businessweek cites more than a dozen sources that spies had installed chips inside equipment used not only by companies but multiple us government agencies. in hong kong trading the computer maker lenovo tumbled more than 20%, while the equipment maker zte dropped 14%. apple and amazon — both cited as companies subject to attacks — have denied the report. more on that coming up later. let's take a look at some of the other stories making the news. the boss of tesla — elon musk — has mocked a us regulator days after reaching settlement with the organisation. in a tweet, musk dubbed the securities and exchange commission as the shortseller

enrichment commission and said they were doing incredible work. last weekend the sec accused musk of making false claims about taking tesla private. as a result, musk was forced to step down as chairman and pay a $20 million fine. japanese car giant toyota has announced a recall of more than 2.4 million hybrid vehicles worldwide because of a fault in their systems that could cause them to lose power. the recall of prius and auris cars includes 1.25 million vehicles sold in japan, 830,000 in north america and 290,000 sold in europe. the vehicles affected were produced between october 2008 and november 2014. canada has failed to invite the us and china to a high—level meeting on reforming the world trade 0rganisation. the country will host a small group of like—minded trade ministers in ottawa in late october to discuss the global trade body. officials say countries

like the us and china will be included at a later date in the reforms discussion process. the european union, australia, japan, singapore, and south korea are expected to attend. men with fewer qualifications in manualjobs are more likely to be hit by post—brexit trade barriers, according to the uk's institute for fiscal studies. it warns factory workers in industries that sell a large amount to the eu are particularly at risk. a number of studies have indicated that people with lower or no qualifications were more likely to vote leave. sunday sees the first round of a general election to choose brazil's new president and national congress. the two frontrunners have very different views on how to fix serious problems faced by latin america's largest economy. brazil is emerging from its worst—ever recession. it posted growth of i% last year — after shrinking the previous two years.

the brazilian currency — the real — has slumped over the past year, though it's regained some ground in recent weeks. that's partly due to the rise in the opinion polls of controversial right—wing candidate jair bolsonaro. he's promising to bring brazil's debt under control, with privatisations and austerity. against him is fernando haddad of the left—wing workers party or pt. he's proposing more government spending and taxes on business and investors. edward glossop, who's a latin america economist at capital economics, is with me now. what appears to be the least bad

option for brazil, spend and save your way out of recession? —— spend oi’ your way out of recession? —— spend or save? i thinkjair bolsonaro, probably more the austerity candidate, is probably the best option in terms of investors. the thing we would emphasise is even though bolsonaro was on the right side of the political spectrum, he wa nts to side of the political spectrum, he wants to implement austerity, whether he can push those measures through congress, which are very unpopular, remains to be seen. he might be seen as more palatable by financial markets but deeply unpalatable politically, particularly to women in the country? his social views are very controversial, his economic spheres are also quite controversial in a country where austerity is very, very unpopular and he is trying to push through very unpopular reforms through a congress which is very fragmented, there are lots of political parties, lots ofjostling parties that want resources for

their states and it is very difficult to push these very unpopular measures through. your company gives recommendations, shall we say, and research to people who would make investment decisions in the country. at the moment you do not recommend brazil. why is that aren't what would it take to change that? the rally in brazil's markets over the past few weeks is probably overdone. in terms of changing our view, fiscal reforms such as pension reform would probably help us. at the moment they do not seem to be on the moment they do not seem to be on the horizon. thank you very much, edward gossett. —— glossop. now let's return to our top story — a bloomberg investigation into spy chips installed in chinese tech products. sarah toms is in singapore for us. you have been following this story in asia overnight, a huge sell—off

of tech stocks because of the report by bloomberg. what did the report show?m by bloomberg. what did the report show? it seems like it is the stuff of movies, with espionage, technology, but chinese technology shares have really been falling quite sharply today and it is proving that investors still have security concerns, and are taking this report very seriously despite denials from companies like apple mentioned in the report earlier. the fear is that after this report it will really affect business, that companies and shoppers might not wa nt to companies and shoppers might not want to continue buying chinese technology goods and electronics produced in china might be viewed as u nsafe. produced in china might be viewed as unsafe. in the report, bloomberg said china was well placed to carry out the attack because 90% of the

world's pcs are made in china. you must not forget that the local technology companies in china are not required by law to cooperate with local authorities, which has already led to a lot of suspicion and growing national security concerns from intelligence officials in the west, who are using many of these computers and components. so if this report is confirmed there could be quite a serious retaliation from the us to boycott technology, perhaps not just from from the us to boycott technology, perhaps notjust from china but across the region, and that is why shares are dropping so much today. there is no surprise the markets have been so jittery. thank you very much, sarah toms. asian shares were in trouble on

friday, treasury yields at a mass of seven year high. there were concerns about fast rate rises in the world's biggest economy. let's see european stocks, they have opened. the main thing people are looking at is unilever, the company that makes pot noodles, ben and jerry's ice cream, different products. it says it is not moving its headquarters any more from the uk to the netherlands despite brexit, which has had a very slight impact on share price. but the ftse is tracking losses on asia overnight. let's look at what is going on later in wall street. economists don't believe that the pace of hiring will change all that much. on average, the us economy has been adding about 196,000 jobs per month for the last several months. so the key will really be wage growth. hourly wages went up in the lastjobs report, and that's a really good thing. so if friday's report shows that wages have increased again, it will be a real sign that there is momentum

in the economy and that it wasn't just a one—off blip. the other thing that is going to the key is the labour participation. now, although the unemployment rate remains low, people who had previously stopped looking for work haven't really gotten back into the game. some economists will want to see a real meaningful change in the number of people that are actively looking for work. —— so —— so economists will want to see. joining us now is randeep somel, who's a director of global equities at m&g investments. welcome to the programme. let's talk about the us and what is going on. samir outlined some of it, jobs data expected to be strong, how is this affecting financial markets, particularly the bond market? every

data point you look at in the us shows the us economy is powering along. you look at the yields you have talking about, the fed chair has talked four times in the past five days about how good the us economy is doing, using words like remarkably bright, positive and extraordinary. why? he is giving the market forward guidance. he does not wa nt market forward guidance. he does not want interest rate rises to be a shock so he is telling everyone that the data he is seen as looking so positive that us consumers and businesses need to get ready for gradual rate rises. we have the oil price, there have been a few months it has been creeping up and it is flirting with the $86 a barrel mark. what kind of impact does the high oil price have on the economy? the oil price have on the economy? the oil price have on the economy? the oil price is always embedded into cost of production, consumers will start to see that when they buy goods and go for transportation. so

you are likely to see that being quite inflationary. it is another lever which means we might see rate rises going forward. lever which means we might see rate rises going forwardlj lever which means we might see rate rises going forward. i know you are a big investor in unilever, what do you make of the shock u—turn to keep its hq in london? very positive news. we were very vocal in our company that we wanted them to remain here. jewel list things are not unique to unilever. royal dutch shell do the same. and we would be concerned that british—based shareholders would have been forced to sell, which would be negative on the share price. very good news. thank you very much, randeep. still to come, we take a look back at the week's biggest stories with our business editor simonjack — which includes a u—turn from unilever! he has made it! he is in good shape and made it in a cab. you're with business live from bbc news.

i love marmite! tomorrow is the start of the national autistic society's autism hour, an initiative designed to show businesses the simple steps they can take to improve the shopping experience for their autistic customers. one of britain's leading toy retailers, the entertainer, has been holding quiet hours in its stores to help create a more calming environment for children with autism. gary grant is founder and chairman of the toy shop the entertainer. a very warm welcome to the programme, gary. it is very remarkable what you are doing for children with autism. are you calling on other retailers to get involved with autism hour? yes, because the entertainer started in such a small way and we had positive feedback from our customers, we like to create a safe and welcoming environment for all families and children. autism week, which we are

delighted to be a key sponsor in, sta rts delighted to be a key sponsor in, starts tomorrow. 0ver delighted to be a key sponsor in, starts tomorrow. over 10,000 delighted to be a key sponsor in, starts tomorrow. 0ver10,000 shops across the country will be observing across the country will be observing a quiet hour to make it a really can space forfamilies. a quiet hour to make it a really can space for families. it is a quiet hour to make it a really can space forfamilies. it is notjust people with autism, it is the siblings and others in the family that suffer when people can't go shopping as a family. how do you achieve that? i have been to the entertainer, it is pretty noisy, lots of different toys and music. how do you achieve quiet hour and make that environment hospitable to people with autism?|j make that environment hospitable to people with autism? i am not an expert on autism but we decided about three months ago to find out a lot more about autism and how we could apply some of the concerns that people with autism have when they go shopping. we met withjersey autism, they trained our stuff. we met with the national autistic society, they showed is a short video of all the sensory things that

make shopping difficult, the noises, the sounds, the bright colours, the flashing lights. this was a young lad with a mum who went into a meltdown. he would say it is like 30 or a0 tv or radio stations are not the same time and he literally went into meltdown and at the end he said iam not into meltdown and at the end he said i am not difficult, i have autism, that really touched me. we want to make our shops really, really welcoming and encourage other shops tojoin in this coming week. we have shopping centres which will be turning the noise down, it is not just noise, it is everything. thank you so much forjoining us from the entertainer. your're watching business live. our top story — chinese tech stocks have plunged on a report about chips inserted in products by chinese spies. a bloomberg investigation has found that data from us companies has been stolen via chips installed inside circuit boards. a quick look at how the markets are faring. european markets have been tracking

asia's slightly lower. we have had a down session on wall street as well in the last 2a hours. the hang seng markets, hong kong, was down about 20% at one point. the no vote down 1596 20% at one point. the no vote down 15% at one point, very much the tech stocks in focus at the moment. —— lenovo down 15%. simonjack has lenovo down 15%. simon jack has made lenovo down 15%. simonjack has made it, tell us about your horrendous journey? there was a strike on the central line which i did not know about, but i jumped ina which i did not know about, but i jumped in a cab. superman of the business world, we are very grateful to have you. let's start with unilever and this decision by the company not to move its h0. how big a deal is this? decision by the company not to move its hq. how big a deal is this7m is significant because it shows the global appeal of london and the ftse

100, the main index, to international firms. 100, the main index, to internationalfirms. what 100, the main index, to international firms. what happened was about one year ago, craft times, the big american company, tried to bite unilever. the company is being asked what are you going to do to give is as much money as these guys? they sounded very difficult because of the complicated anglo dutch structure, half owned here, half owned there. they said they will have one hq and they will put it in the netherlands. a small group of shareholders, but a determined and significant group, said if you move your primary listing to the netherlands, we are no longer eligible to be in the ftse100, lots of funds track that index. we will have to sell those shares at a time not of our choosing. we don't want to do that so we do not think it is a good idea. it was not to do with brexit, it was to do with responding to the takeover bid. but having said

that, many people will show but if you are a blue—chip global firm, that, many people will show but if you are a blue—chip globalfirm, you wa nt to you are a blue—chip globalfirm, you want to be in the same index as hsbc, rio tinto, shell, bp, etc. blue—chip companies want to be in the deep and liquid pools in london. some government ministers might spin thatis some government ministers might spin that is a brexit or no brexit, london is the place to be. brexit or no brexit, but let's talk about brexit, because we have to. theresa may at the tory party conference this week, did she do enough to allay concerns and make people feel allay concerns and make people feel a bit more confident in the brexit process , a bit more confident in the brexit process, and did she do enough to get you dancing? i was get you dancing? iwas in get you dancing? i was in the newsroom when it happened and there were shrieks of various different kinds, people going god no, people going good on her. i think on balance it did more good than harm. it was her best speech for ages, i think it was her best moment since the election. 0bviously she had the spectre of

borisjohnson he was saying chuck chequers and what have you, she said stick with my plan, backed me and if you back me on brexit i will end austerity, which is an astonishing claim given the economic ‘s coming up. as claim given the economic ‘s coming y claim given the economic ‘s coming up. as my colleague kamal ahmed put it, the chancellor of the exchequer will have defined the money —— will have to find the money. it is like saying to your child, have all your dinnerandi saying to your child, have all your dinner and i will give you three helpings of chocolate ice cream. whether there are three helpings of chocolate ice cream in the freezer at the moment remains to be seen. there are still some very big issues over the irish backstop question, some movement on that, which might get the uk in the customs union for a little while, but it's still could flounder on the rocks of northern ireland, which has always been the case. aston martin hit the skids on its stock market debut, i was amazed to find out that despite the glamorous

association with the james bond films and the like, the company has gone bust seven times in 105 years or something? on lots of these small—scale sports manufacturers, they have gone bust millions of times. tvr and lotus spring to mind. the brand still mean something but running them of the company is very difficult. the ipo was significant because many people thought that valuation was too high, comparing it to the likes of ferrari and saying you are not in that league. shareholders have said you are not wanted. another big ipo was a fintech company funding circle which does small—business lending. —— funding circle. it is not very good for confidence when share prices begin to fall, investors get jittery. in the case of the fintech one, funding circle was seen as a unicorn, billion pounds plus, listed

in london, it puts a fly on their out mine too. you are never the fly in my ointment. always the unicorn! in a moment we'll take a look through the business pages but first here's a quick reminder of how to get in touch with us. stay up to date with all the day plasma business news as as happens on the bbc‘s business live web page. insight and analysis from our editors around the globe. we wa nt editors around the globe. we want to hear from you. get involved on the business live web page at bbc.com/business. we also wa nt page at bbc.com/business. we also want twitter and facebook. what you need to know, when you need to know. randeep is back to talk about some of the business pages. we've mentioned fast fashion and the effect on environment, a group of uk mps say it is damaging the

environment and the uk is one of the biggest spenders on fast fashion, far more than the likes of germany and italy. what do you think? is fast fashion damaging the environment? just on your point, britain is also the largest consumer spend over the internet, which has made fast fashion even more popular. these companies need to look their social responsibility, where all the waste goes, and have a plan in place whether it be recycling, talking to their consumers or convincing them that they should be using clothes for longer. gill says i volunteer for longer. gill says i volunteer for a charity and so many donations come from certain fast fashion outlets. it feels that people buy and wearand outlets. it feels that people buy and wear and then throw out, forgetting the washing part. sadly we often cannot salon unless they are brand—new. it really concerns me. so it impacts charity and other aspects of the economy? these businesses need to think about their

footprints and realise it is still their responsibility when it is out their responsibility when it is out the door. this made me laugh, does my environmental impact would begin this?! ian says it is notjust fashion, but like many items it becomes cheaper to replace than repair. and perhaps we have lost the skills to replace... repair something, and perhaps we have lost the skills to replace... repairsomething, or it is more expensive to get in an expert if you, like i did the other day, rip your trousers when reading the news! in the independent, waitrose to trial delivery service allowing drivers to enter your home while you are out. so for viewers who may not know about this, waitrose is a big uk supermarket brand which delivers food items to your door, but what do you do if you are not in? now they say drivers will be allowed to enter your home and unpack your shopping for you. is this a good idea,

randeep? it sounds scary. if you are very busy like the two our view, it would be very helpful if it was ready for you coming home. it brings up ready for you coming home. it brings upa ready for you coming home. it brings up a security issue but they would say that all the drivers would be wearing body cams which need to be switched on when they enter your home. would you allow somebody to come and unpack your shopping?” don't see why not. victoria? it don't see why not. victoria ? it is don't see why not. victoria? it is always the same delivery man and he is quite a nice chap, soi delivery man and he is quite a nice chap, so i wouldn't mind. i trust him. one thing to add, these fans are not utilised as much during the day as they are in the evening, they are trying to utilise them as much as they can throughout the day. good point, randeep. thank you so much for coming on the programme. have a lovely weekend. that's it from business live today. there will be more business news throughout the day on the bbc live web page and on world business report. have a good weekend. goodbye. we are going to season fairly

significant changes in the weather over the next 12 hours or so. cold front moving south at the moment through southern scotland, north wales in northern england, moving very, very slowly. to the north of that it will be much more chilly compared to yesterday. to the south—east, temperatures up to 22. a real big difference in temperatures, thatis real big difference in temperatures, that is how we will remain through the day. cloud and rain across north wales and northern england will continue into the afternoon, quite patchy rain. further south and east, sunny spells, a fairly pleasant afternoon and temperatures getting up to around 22. some cloud moves into south—west england, quite cloudy across wales, northern england, the north midlands, temperatures about 1a or 15. it into scotland and northern

ireland, in the best of the sunshine with a view showers you will notice the drop in temperatures, with highs of only about ten to 12 degrees. tonight that area of cloud and rain will intensify slightly, heavy bursts of rain in northern england, wales, south—west england and the midlands. it will stay quite mild towards the south—east, temperatures no lower than about ten or 12 degrees but of the scotland and northern ireland, a touch of frost, air temperatures are both realfour. some sunshine per scotland and northern ireland on saturday, for england and wales, starting quite cloudy and wet and remaining quite wet for much of the day. some brighter skies developing in the north and west and staying largely sunny for scotland and northern ireland. much chilly for us all. temperature and —— temperatures in the capital down to 13. 0n the capital down to 13. on sunday the weather system will move away towards the east, high—pressure developing for many before the next frontal system moves

in. it will be a chilly start on sunday morning, there could be quite a widespread frost, particularly across england and wales, first thing. clear skies first thing across thing. clear skies first thing a cross m ost thing. clear skies first thing across most areas, the cloud increasing with rain into northern ireland and into western scotland, some of that quite heavy. the wind is picking up through the day. further south and east, much better than saturday and maximum temperatures still quite chilly, around 12 to 15 or 16. have a good day. hello. it's friday, it's nine o'clock. i'm joanna gosling. welcome to the programme. hundreds of people have been arrested overnight at a protest against donald trump's nomination for the us supreme court, brett kavanaugh. these two women who stopped jeff flake in the elevator, they speak for so many of us as survivors when they stand up and they say, "look me in the eye when you're talking about me, when you're making decisions that have an implication on my life." today there'll be a procedural vote

ahead of the main vote tomorrow on whether brett kavanaugh should be given a lifelong position as a justice at the county's highest court, despite allegations of sexual assault against him. we'll talk to a woman who says men are using the professional networking site linkedin to send creepy messages. meg stickland says men are undermining women who are just trying to get on in their careers with unprofessional sexual comments.